Business
Worksport Announces Closing of Underwriters’ Option to Purchase Additional Shares of Common Stock in Connection with its Underwritten Public Offering
TORONTO, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP, WKSPW) (“Worksport” or the “Company”), a company that designs and distributes pickup
About this update from Worksport, Ltd.
[{"type":"text","content":"TORONTO, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP, WKSPW) (“Worksport” or the “Company”), a company that designs and distributes pickup truck covers called tonneau covers throughout the United States and Canada, including Tonneau covers that provide security and protection for cargo to personal pickup truck owners, today announced the closing of the sale of an additional 210,909 shares of its common stock at a price of $5.49 per share pursuant to the exercise of the underwriters’ over-allotment option in connection with its public offering that closed on August 6, 2021, resulting in gross proceeds of approximately $1.2 million and bringing the total gross proceeds of the public offering to approximately $19.2 million. Maxim Group LLC acted as sole book-running manager for the offering. The offering was conducted pursuant to the Company’s registration statement on Form S-1 (File No. 333-256142), as amended, previously filed with, and subsequently declared effective by the Securities and Exchange Commission (“SEC”) and a related registration statement, filed on August 3, 2021 pursuant to Rule 462(b) (File No. 333-258429) and which was automatically effective upon filing. A final prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at (212) 895-3745. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Worksport Worksport Ltd. designs and distributes pickup truck covers called tonneau covers throughout the United States and Canada. Tonneau covers are useful aftermarket accessories that provide security and protection for cargo to personal pickup truck owners. Worksport has developed soft vinyl tonneau covers and hard aluminum tonneau covers. Covers are offered in three or four-panel options. Once installed, our tonneau covers latch against the bed of the truck and fold up against the back win...